PMI PMI-RMP Online Practice Questions and Exam Preparation

PMI PMI-RMP Online Questions & Answers

• Question 51:

  A project has consistently been lagging in cost performance index (CPI) and schedule performance index (SPI) over the past few months. The risk manager realizes that some activities are taking longer than expected and more resources are needed.

  Which project artifact should the risk manager analyze to mitigate the risk of further project overrun?

  A. Schedule and resource assumptions
  B. Contingency reserves
  C. Work breakdown structure (WBS)
  D. Risk impact matrix
  A. Schedule and resource assumptions

• Question 52:

  A formal analysis is completed on a major change to a research and development (RandD) program at a risk-averse corporation. This analysis includes a detailed review of the risk exposure and monetary funds required to take appropriate actions as needed. The risks included cost, labor, materials, communication, IT, and facilities. Within the entire project portfolio, management only has US$995,000 for RandD projects. All inclusive, detailed breakout of budget analysis is as follows:

  

  What should he risk manager propose to the review board as a recommendation based on the information above?

  A. Start the project with the current funding available.
  B. Hire all staff off-shore to manage the project at lower rates.
  C. Put the project on hold and reconsider it later at an agreed-upon date.
  D. Request additional funding before starting the project execution phase.
  D. Request additional funding before starting the project execution phase.

• Question 53:

  A project manager must have certain interpersonal skills to communicate with stakeholders and manage their expectations of the project work. Which of the following interpersonal skills has been identified as one of the biggest reasons for project success or failure?

  A. Motivation
  B. Communication
  C. Influencing
  D. Political and cultural awareness
  B. Communication

• Question 54:

  A six-month, US$1,2 million project is two months completed. The project has 3 high, 6 medium, and 2 low risks, with a 10% reserve for known risks, and a 5% reserve for unknown risks. Most of the project's reserves have not been spent. The risk manager, who is also the project schedule manager, establishes monthly risk management reviews to evaluate performance. So far, the project has missed 50% of the planned risk mitigation milestones.

  Based on this project data, what technique should the risk manager recommend to improve the risk management process?

  A. Increase the risk manager's position to a full-time position and acquire a dedicated project schedule lead.
  B. Adjust project risk thresholds to increase the number of residual risks on the project.
  C. Increase the frequency of risk status meetings and update the risk management plan.
  D. Perform a variance analysis and potentially allocate more reserves to improve risk mitigation.
  A. Increase the risk manager's position to a full-time position and acquire a dedicated project schedule lead.

• Question 55:

  You are project manager for ABD project. You, with your team, are working on the following activities:

  1.Probabilistic analysis of a project.

  2.Probability of achieving cost and time objectives.

  3.Trends in Qualitative Risk Analysis results.

  On which of the following processes are you working on?

  A. Plan Risk Management
  B. Perform Quantitative Risk Analysis
  C. Perform Qualitative Risk Analysis
  D. Identify Risks
  B. Perform Quantitative Risk Analysis

• Question 56:

  Consider the risk probability-impact matrix in the figure given below:

  

  If Risk B happens in this project, how much will be left in the contingency reserve?

  A. $193,500
  B. -$334,500
  C. It depends on the total budget of the project.
  D. $148,300
  A. $193,500

• Question 57:

  A new risk manager has been assigned to a project experiencing delays, quality issues, low performance, and client complaints. The work is being completed with the client's vendor, which apparently has been causing all of the issues. What should the risk manager do first?

  A. Enhance risk identification.
  B. Review the contingency reserves.
  C. Create a risk response plan.
  D. Review the risk registry.
  D. Review the risk registry.

• Question 58:

  You are the project manager of the GHY project for your organization. You are about to start the qualitative risk analysis process for the project and you need to determine the roles and responsibilities for conducting risk management. Where can you find this information?

  A. Enterprise environmental factors
  B. Risk register
  C. Risk management plan
  D. Staffing management plan
  C. Risk management plan

• Question 59:

  Most risks are assessed for probability and impact. Which of the following are other factors that should be considered?

  A. Urgency and complexity
  B. Manageability and cost
  C. Urgency and manageability
  D. Manageability and complexity
  C. Urgency and manageability

• Question 60:

  Mark is the project manager of the BFL project for his organization. He and the project team are creating a probability and impact matrix using RAG rating. There is some confusion and disagreement among the project team as to how a certain risk is important and priority for attention should be managed. Where can Mark determine the priority of a risk given its probability and impact?

  A. Risk management plan
  B. Project sponsor
  C. Risk response plan
  D. Look-up table
  D. Look-up table